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Financial News: China Manufacturing PMI Steady In January - Caixin

China Manufacturing PMI Steady In January - Caixin

01/31/2024 - 21:10:00 (RTTNews)

(RTTNews) - The manufacturing sector in China continued to expand in January, and at a steady pace, the latest survey from Caixin revealed on Thursday with a manufacturing PMI score of 50.8.

That's unchanged from the December reading, and it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Chinese manufacturing companies signaled an expansion of output for the third month running in January. The rate of growth was little changed from December and, though modest, was among the fastest recorded over the past year and a half.

Firms often mentioned raising output due to firmer market conditions and higher sales. Overall new business increased for the sixth successive month, though the rate of growth slipped to the slowest since last October. The softer rise in total sales was despite a renewed improvement in foreign demand. New export orders increased for the first time since last June, albeit marginally

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